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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
 Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs amid lower commodity prices.
Mining companies continue to move operations in-house, renegotiate service contracts to reduce value or scope, extend payment terms and limit further exploration as they seek to minimise costs and restore profitability. This directly impacts the work contracted to mining services companies, either squeezing margins, delaying cash inflows or reducing the pipeline of work available.
The decision last week by Fortescue Metals Group Limited not to renew its contract with Downer EDI Limited, as its moves to an owner-operator model at its Christmas Creek mines, highlights this trend. Fortescue had also reduced the scope of the contract in February 2015. In addition, Rio Tinto Ltd announced last week that it was extending its supplier payment terms to 90 days from 45 days for contracts greater than USD3m, and to 60 days for contracts under this threshold. Other solutions over the past year include Atlas Iron announcing a profit sharing arrangement linked to iron ore prices with its contractors to address the impact of price volatility on its returns.
Fitch expects mining service companies with limited operations outside the resources sector to be more affected by the mining companies' actions because they have fewer opportunities to replace lost revenues. Fitch downgraded Emeco Holding Limited's Issuer Default Rating by two notches to 'B-' in September 2015, which reflected the impact of the prolonged weakness in global commodity markets on its profitability, cash flows and scale. The recent insolvencies of Civil Australia Holdings and WDS Ltd. continue to highlight the increasing challenges smaller mining service companies face in this new environment.
Larger and more diversified engineering firms, such as Downer, are likely to be less affected by the miners' actions. Their exposure to other sectors, including infrastructure and civil sectors, allows them to mitigate any loss of mining services revenue.
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Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
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- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
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